Modal Labs in Talks for 15 Billion Valuation
Artificial intelligence startup Modal Labs is reportedly in discussions to secure new financing at a valuation of roughly 15 billion dollars. The company previously raised funds earlier this year at a significantly lower valuation.
Modal Labs is in discussions to raise new financing at a valuation of $15 billion, people familiar with the matter said on Wednesday afternoon. The talks follow a $355 million funding round in May that valued the artificial intelligence startup at $4.65 billion. The rapid valuation increase highlights surging investor demand for infrastructure providers that supply scarce chips to artificial intelligence companies.
